India's tech boom: IPOs, acquisitions, and startup surge
India's technology sector is experiencing a multi-faceted boom. Major share sales reflect a population deeply engaged with mobile technology, while Indian IT firms are aggressively acquiring companies to adapt to an AI-driven landscape. Bengaluru has overtaken Mumbai as the country's leading hub for entrepreneurs under 30, signaling a shift in startup geography. However, analysts note that much of India's tech stack still relies on foreign-developed foundations.
China's millionaire growth is trailing the global average despite a record year for global personal wealth. The sluggish property sector, once a quarter of the economy, continues to erode household wealth since its downturn in late 2020. On a brighter note, China's manufacturing PMI rebounded to 50.3 in June, signaling marginal expansion, and May economic data is under review for further clues on recovery momentum.
South Korea is riding a wave of AI-driven economic activity. Exports surged past $100 billion for the first time in June, largely fueled by chip demand. Tech giants are planning a $518 billion semiconductor hub to serve soaring AI needs, and KKR is taking control of a $1.3 billion renewables platform to power this growth with clean energy.
Sweeping changes to the US student loan system took effect on July 1 under the Trump administration. The new policy limits how much students can borrow, aiming to pressure colleges to lower tuition costs. NPR and CNN report on what these changes mean for borrowers and whether the administration can succeed in making college more affordable.